{"id":92663,"date":"2023-03-07T12:58:28","date_gmt":"2023-03-07T05:58:28","guid":{"rendered":"http:\/\/www.thestorythailand.com\/?p=92663"},"modified":"2023-03-07T12:58:32","modified_gmt":"2023-03-07T05:58:32","slug":"krungthai-and-visa-partner-to-modernise-cross-border-money-movement-for-thai-businesses","status":"publish","type":"post","link":"https:\/\/www.thestorythailand.com\/en\/krungthai-and-visa-partner-to-modernise-cross-border-money-movement-for-thai-businesses\/","title":{"rendered":"Krungthai and Visa partner to modernise cross-border money movement for Thai businesses"},"content":{"rendered":"\n

Krungthai Bank (KTB) today announced a partnership with Visa, to become the first Thai financial institution to implement the Visa B2B Connect solution, an innovative, fast and transparent way to process high-value, cross-border corporate payments effectively.<\/p>\n\n\n\n

Visa B2B Connect is designed to streamline cross-border corporate payments by moving money directly from the originating bank to the beneficiary bank. The solution also helps increase the visibility and predictability of the transaction flow, by giving customers an opportunity to track the status of payments in near real-time, while improving accuracy.<\/p>\n\n\n\n

Tawatchai Cheevanon, Senior Executive Vice President, Head of Global Transaction Banking Group, Krungthai Bank Public Company Limited<\/strong> said: \u201cAs a leading financial institution in Thailand, KTB is committed to developing comprehensive financial technology and innovation services to support the drive towards the sustainable economy in line with Krungthai\u2019s “Growing Together for Sustainability” strategy. The partnership with Visa is one of our strategies to create a sustainable ecosystem of financial management services for corporate customers, including payment, liquidity management and real-time digital cross-border money transfer services to allow customers manage their cashflow efficiently.<\/p>\n\n\n\n

Serene Gay, Group Country Manager for Regional Southeast Asia, Visa <\/strong>said: \u201cAs Thai businesses continue to expand globally, innovative solutions are emerging that reimagine how B2B cross-border payments are made. These evolving solutions are offering important advantages to banks and their customers by providing improved transparency, increased predictability, and ultimately profitability. <\/p>\n\n\n\n

We are pleased to be working with Krungthai Bank to leverage our technology and network, thereby giving Thai businesses critical tools to succeed and thrive in this ever-changing global commerce landscape. Visa\u2019s core strategy is to help clients and partners drastically improve their customers\u2019 friction-filled experiences. The future of B2B cross-border payments promises to be simpler, secure, lower cost, and more transparent to enhance the payment experience for everyone, everywhere.\u201d<\/p>\n\n\n\n

\u201cKrungthai is the first financial institution in Thailand to provide international money transfer services to corporate customers via Visa B2B Connect. This world-class technology will enhance our services for customers to ensure convenient, fast, and secure transactions.\u201d<\/p>\n\n\n\n